Lance Parker has been promoted to president of Honolulu-based real estate investment trust Alexander &Baldwin Inc. to go along with his current position as chief operating officer. He assumes his new job Jan. 1.

Chris Benjamin, who is relinquishing the president’s role, will remain as the company’s CEO.

“The Board and I are pleased to recognize Lance’s remarkable contributions to A&B and Hawai‘i,” Benjamin said in a statement. “Over the past 18 years, Lance has been instrumental in transforming A&B into one of Hawai‘i’s leading commercial real estate companies and the only real estate investment trust focused on and headquartered in the state. His deep Hawai‘i roots and commitment to the local community will enable him to continue to grow A&B’s real estate presence and strengthen our position as Partners for Hawai‘i.”

Parker, a 28-year veteran of the commercial real estate industry, took charge of A&B’s real estate business in 2015 and has been chief operating officer since November 2021. He joined A&B in 2004 in an acquisition role and has held positions of increasing responsibility throughout his career at A&B, the state’s second-largest retail property owner.

He oversaw the migration of A&B’s mainland portfolio back to Hawaii and the development of in-house property management and leasing capability.

“It’s an exciting time for A&B, and I am honored to be presented with the opportunity to take on an expanded role,” Parker said in a statement. “I look forward to continuing to work with Chris and our dedicated team to grow our thriving real estate portfolio and create value for all our stakeholders.”

Parker, who was born and raised in Hawaii, began his career in commercial real estate in Southern California before returning to the islands to join A&B. He holds a bachelor’s degree in finance from the University of Southern California and is a graduate of Kamehameha Schools.